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Dec 27, 2012
12/12
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a lot of smart people argue how quickly the fiscal cliff will damage the economy. we'll talk more in the show about what the timetable will be. here's what you need to know. the treasury department said on monday they need to begin taking action to keep us from breaking through the debt ceiling. they can buy us two months with the tricks they have up their sleeve. if we waste that time, we get to the debt ceiling and we haven't climbed back up the fiscal cliff and the republicans begin playing games with the debt ceiling, that would be fiscal suicide. we breakthrough the debt ceiling, we're talking depression. not a quick recession. it would be the single stupidest and most damaging act of sabotage in american history. and it cannot be allowed to happen. and here, hopefully to tell me why it will not happen is alice, who probably knows more about the budget and the budget deals than probably anybody else alive. she's appointed to president obama's national commission on fiscal responsibility and reform. and she's currently a senior fellow at the brookings instituti
a lot of smart people argue how quickly the fiscal cliff will damage the economy. we'll talk more in the show about what the timetable will be. here's what you need to know. the treasury department said on monday they need to begin taking action to keep us from breaking through the debt ceiling. they can buy us two months with the tricks they have up their sleeve. if we waste that time, we get to the debt ceiling and we haven't climbed back up the fiscal cliff and the republicans begin playing...
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Dec 28, 2012
12/12
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MSNBCW
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they were wrong. >> we are nowhere when it comes to the fiscal cliff talks. let me tell you what's going to happen today. speaker john boehner, the republican speaker, is going to try to pass what he calls his plan b, which would just simply address tax rates for those making a million dollars or more and that's it. >> john boehner walked away from the obama administration's third offer. a giant, giant compromise. so he didn't like it when they led. he didn't like the 2340eshing. he decided instead to chart his own course called plan b. plan b was supposed to show president obama that republicans had their own solution and instead of bothering with his offer they would just go ahead and pass their own plan without him. that was the idea, anyway. >> there is breaking news to report tonight out of washington. strange breaking news out of washington. within the last hour republican house speaker john boehner appears to have completely lost control of his own caucus. just about an hour ago john boehner was forced to pull his own plan off the floor because it turn
they were wrong. >> we are nowhere when it comes to the fiscal cliff talks. let me tell you what's going to happen today. speaker john boehner, the republican speaker, is going to try to pass what he calls his plan b, which would just simply address tax rates for those making a million dollars or more and that's it. >> john boehner walked away from the obama administration's third offer. a giant, giant compromise. so he didn't like it when they led. he didn't like the 2340eshing. he...
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Nov 20, 2012
11/12
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FBC
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he says the fiscal cliff outcome will make-or-break the economy in 2013. peter barnes is in washington with more. peter, i mean, it's more idle talk, though; right? we are not seeing any action. peter: well, he's trying to push all the politicians down here to action with these warnings, tracy, no doubt about it. he did say that depending on the outcome, he is prepared to help provide more assistance to the economy, more monetary easing, potentially in the form of additional quantitative easing, expanding qe 3, making it bigger, but he says that what the economy really needs is a fix to the fiscal cliff. he says that's causing a lot of uncertainty out there along with europe. but he said the fiscal cliff problem is especially causing uncertainty and said quote, it seems to be weighing on spending decisions of households and businesses as well as on financial conditions. so he said the politicians in here could help to strengthen the recovery significantly if they avoid the cliff, but if they don't, he said, don't count on the fed to save the day. >> in the
he says the fiscal cliff outcome will make-or-break the economy in 2013. peter barnes is in washington with more. peter, i mean, it's more idle talk, though; right? we are not seeing any action. peter: well, he's trying to push all the politicians down here to action with these warnings, tracy, no doubt about it. he did say that depending on the outcome, he is prepared to help provide more assistance to the economy, more monetary easing, potentially in the form of additional quantitative...
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Sep 27, 2012
09/12
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FBC
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eye 88
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holiday shopping around the corner, but so is the looming fiscal cliff. already, a down economy. chairman of the retail group, thank you so much for being here. are consumers feeling confident right now? we have an election out there, we have the fiscal cliff. jobs are still an issue. the economy is still an issue. all of this considered, is the consumer still ready? >> they are on a short-term basis. they still have a job and they feel that their own little world is protected. they are only thinking the short-term. it is not lavish. it is making the right deal. has this really curb the extent of the spending? >> they are spending money on certain items. they are trying to entertain themselves. halloween is coming up. the average sale is $89 or $100. they put on a costume and have a night of fun. but that is not like investing in a new home or going out. like buying a new car. car sales are up, but very, very cautiously. i think the consumer is looking forward to a holiday. i think we're going to have a good holiday. not a great holiday, but a good holiday. the new trend is for y
holiday shopping around the corner, but so is the looming fiscal cliff. already, a down economy. chairman of the retail group, thank you so much for being here. are consumers feeling confident right now? we have an election out there, we have the fiscal cliff. jobs are still an issue. the economy is still an issue. all of this considered, is the consumer still ready? >> they are on a short-term basis. they still have a job and they feel that their own little world is protected. they are...
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128
Dec 8, 2012
12/12
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MSNBCW
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is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we >> just to back you up, i really think the great thing is the economy is just starting to lift up. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we got tonight. >>> up next, if you can't win by the rules, change them. that's what republicans are trying to do in pennsylvania. they don't like the electoral college because it didn't work for them. come back for the place for politics. could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. o
is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we >> just to...
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Dec 7, 2012
12/12
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MSNBCW
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eye 128
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is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up a. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we got tonight. >>> up next, if you can't win by the rules, change then. that's what republicans are trying to do in pennsylvania. they don't like the lerer toal college because it didn't work for them. come back for the place for politics. derate alzheimer's, you'll also care about our new offer. you get access to nurses who can help with your questions. and your loved one can get exelon patch free for 30 days. if the doctor feels it's right for them. it cannot change how the disease progresses. hospitalization and rarely death have been reported in patients who wore more than one patch at a time. the most common side effects of e
is. >> i agree. >> and if we dive off the fiscal cliff, the economy could get much weaker. that's -- >> by the way -- >> -- millions of americans. it's a problem for barack obama. >> just to back you up, i really think the great thing is the economy is just starting to lift up a. the unemployment rate is really starting to come down. we're getting good job production. thank you so much, ladies, for coming on tonight. thanks for the sharp thinking we got tonight....
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Dec 28, 2012
12/12
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KRON
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economy and make over the so-called fiscal cliff. reaching a deal before them will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are all watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. i told president i would be happy to look at what they're he promises but the truth is is that we are coming up against a hard deadline here and as i said this is a conversation we should have had months ago. >> democrats want to extend the bush era tax cuts to everyone except those americans who are making $250,000 or more a year. many republicans remain against the tax increases. >> former president george h. w. bush is still in intensive care at a houston hospital this morning dealing with a stubborn fever. the former president's family is confident that he will be out of the i see you soon. the 88 year-old has been in a hospital for more than a month, after first coming down with bronchitis
economy and make over the so-called fiscal cliff. reaching a deal before them will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are all watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. i told president i would be happy to look at what they're he promises but the truth is is that we are...
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Jul 28, 2012
07/12
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CNNW
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. >> the fiscal cliff threatens the economy, your wallet, and even your job. unless washington wakes up, you are just 156 days from going over it. i am christine romans. unless congress acts, your taxes will go up on january 1st. the white house says 114 million families will see taxes rise by an average of $1600 in and massive cuts and they failed to agree on a deficit reduction plan and triggered automatic spending cuts known as sequestration. they happen on january 2nd. it is $1 trillion in cuts over nine years split evenly between defense and non-defense programs. the bipartisan policy center estimates sequestration of defense will mean cuts of 15% next year. every non-defense agency faces a 12% cut and that means job losses from doctors, teachers, border patrol agents and government contractors. anywhere from 1 million to 3 million jobs will be lost. california, virginia, texas, washington, d.c., maryland, would each lose more than 100,000 jobs. the bottom line here, this is the manifestation of your elected officials not doing their jobs. they don't see
. >> the fiscal cliff threatens the economy, your wallet, and even your job. unless washington wakes up, you are just 156 days from going over it. i am christine romans. unless congress acts, your taxes will go up on january 1st. the white house says 114 million families will see taxes rise by an average of $1600 in and massive cuts and they failed to agree on a deficit reduction plan and triggered automatic spending cuts known as sequestration. they happen on january 2nd. it is $1...
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Nov 29, 2012
11/12
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KGO
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>> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on $2000 tax increase going into affect next year for the average family of four. >> what is that again? my two? k. tweet use, my 2 k or e mail. post it on member of congress's facebook wall. do what it takes to communicate a sense of urgency. >> they may not agree on details but house speaker john boehner and house minority leader agree on one thing. failure is not on the table. >> going over fiscal cliff will hurt our economy. >> boehner said republicans are committed to a compromise. >> rinz are willing to put revenue on the table. >> so hard ball politics were left to house majority leador eric cantor complaining the white house
>> at the top of the wish list, a deal to a voice sending the economy over the fiscal cliff. >> my hope is to get this done before christmas. >> today, the president joined by middle income earners reaching out to the administration about keeping taxes low. >> if congress does nothing, every family in america will see their taxes go up at the beginning of next year. >> the white house is urging americans to use social media to push congress to act. keying in on...
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Nov 9, 2012
11/12
by
WUSA
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and that fiscal cliff. facing a tough core decision when we return, we have a full report from capitol hill on that cliff. monika? >> on the northbound side of 395 the brake lights begin at duke street and continue to seminary road and the pace improves to 14th street bridge and all lanes are open. i'll be back with more traffic coming up at 6:30. you're watching 9news now. we'll be right back. >>> good morning, we're back at 6:29. this is always the place to get your weather first. here's a live look at two of our favorite monuments and me morals, the jefferson and the washington. and you can see the traffic moving across the 14th street bridge. and thank you for starting your friday with us. i'm andrea roane. >> i'm mike hydeck, and the round of applause continues for howard bernstein because wait until you hear what he has in store for the weekend. >> it's a little chilly out there but i'm warmed up from working out with sportacus a few minutes ago. temperatures down in the 30s and 40s now but 60s today
and that fiscal cliff. facing a tough core decision when we return, we have a full report from capitol hill on that cliff. monika? >> on the northbound side of 395 the brake lights begin at duke street and continue to seminary road and the pace improves to 14th street bridge and all lanes are open. i'll be back with more traffic coming up at 6:30. you're watching 9news now. we'll be right back. >>> good morning, we're back at 6:29. this is always the place to get your weather...
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Nov 8, 2012
11/12
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FOXNEWSW
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it shows if you go off the fiscal cliff the economy goes into recession in the beginning of to 13. this is not a small matter. we have to address this. >>neil: thank you, very much, this this is just in bake terms and i know i sound too passionate but keep in mind i'm a nerd, a nerd with passion. with have all these things happening sat the same time, january 1, 2013, trillions worth of tax rates that expire. the very same second billions worth spending cuts kick in. all at the same time. that is coming. you have to do something to address that. you can talk in a grand way what you will do after that to address some of the bigger issues but in the meantime you have that to address. i want to tell washington, i were with you, and now i am telling washington i'm coming back to lot el you. i will go back there if you don't get off your ass and do something, this is all of america. [ forsythe ] we don't just come up here for the view up in alaska. it's the cleanest, clearest water. we fd the best, sweetest crab for red lobster that we can find. [ male announr ] hurry in to rd lobster's
it shows if you go off the fiscal cliff the economy goes into recession in the beginning of to 13. this is not a small matter. we have to address this. >>neil: thank you, very much, this this is just in bake terms and i know i sound too passionate but keep in mind i'm a nerd, a nerd with passion. with have all these things happening sat the same time, january 1, 2013, trillions worth of tax rates that expire. the very same second billions worth spending cuts kick in. all at the same time....
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Dec 26, 2012
12/12
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CNBC
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economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exch
economy. >>> still ahead on "worldwide exchange," fiscal cliff fiasco. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide...
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Dec 14, 2012
12/12
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CNBC
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economy is racing towards the fiscal cliff. we'll come back. we've got a top republican lawmaker telling us what she's willing to compromise on hopefully in regards to spending cuts and tax increases as part of this deal. plus, will there be a market event before the year is over because congress can't solve this budget mess? someone here is predicting one, but how bad will it be coming up? stay tuned. customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy. it went out today... i'm happy. what if she's not home? (together) she won't be happy. use ups! she can get a text alert, reroute... even reschedule her package. it's ups my choice. are you happy? i'm happy. i'm happy. i'm happy. i'm happy. i'm happy. happy. happy. happy. happy. (together) happy. i love logistics. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the ce
economy is racing towards the fiscal cliff. we'll come back. we've got a top republican lawmaker telling us what she's willing to compromise on hopefully in regards to spending cuts and tax increases as part of this deal. plus, will there be a market event before the year is over because congress can't solve this budget mess? someone here is predicting one, but how bad will it be coming up? stay tuned. customer erin swenson bought from us online today. so, i'm happy. sales go up... i'm happy....
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Dec 28, 2012
12/12
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MSNBCW
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if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first step. then speaker boehner and the president come together. they are within $500 billion of step two. $3 trillion debt reduction. all he is there to do is come back and -- $2.5 trillion -- >> next ten years. >> that's where we need them to generate the political will that's right for america's economy. >> i want to ask you about political will. we look at he is mums and it seems there is a lot of republicans that are weary of the -- agreeing to any deal because of a threat of a primary. a lot of the folks in the house chop from conservative districts. barack obama is a bad word. they do
if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first...
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Jun 8, 2012
06/12
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CSPAN
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eye 114
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if congress deceives us into calling it a fiscal cliff, it will ruin the economy. they need to do this. it's time to take our medicine. host: next, from twitter -- let me go back to the wall street journal, reporting about the fed chief's testimony yesterday -- next is a call from plano, texas. mel is an independent. caller: i am a businessman and i have succeeded in this economy. if they ever want to try to stimulate our economy, they need to direct money to local governments and assign various committees of businessmen to spend on the best ideas brought forward from local citizens, like incubators. i tried recently to build a second store in allen, texas. it was $66,000 in fees on surveys, soil samples, environmental impact, anything they can make up. we have to get back to realism a. you cannot grow anything when local governments are out of control. texas is really a joke when you get down to the local government. that word has to begin. host: let's go back to our facebook community and hear what some of they are saying. and the conversation can continue on fac
if congress deceives us into calling it a fiscal cliff, it will ruin the economy. they need to do this. it's time to take our medicine. host: next, from twitter -- let me go back to the wall street journal, reporting about the fed chief's testimony yesterday -- next is a call from plano, texas. mel is an independent. caller: i am a businessman and i have succeeded in this economy. if they ever want to try to stimulate our economy, they need to direct money to local governments and assign...
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to the edge of the fiscal cliff. >> democrats saypí>!p democratse slow walking the economy. yes. this is the same republican leadership that had to have incentive and session barely a day. barely a full day as this week. >> if we do go oaf the cliff, it will be especially bad for the unemployed. about 400,000 will stop receiving checks. >> police intercepted two bombs on the east of hillary clinton's visit top?édz northern ireand. officers rammed a car and seized a car hours before the sogs arrived. hours later they revealed a bomb had been found in a mailbox in a loyalist area of county down. detectives questioning four ñ republican army members.ublican >> sad ending this afternoon to what started out as a joke played by two djs involving the pregnancy of prince william wife's kate, the duchess of cambridge. a nurse who was drawn into the prank has died, a suspected suicide. a hospital nurse caring for the pregnant duchess of cambridge tricked by two radio disc jockeys has apparently committed suicide. the woman who served -- worked a
to the edge of the fiscal cliff. >> democrats saypí>!p democratse slow walking the economy. yes. this is the same republican leadership that had to have incentive and session barely a day. barely a full day as this week. >> if we do go oaf the cliff, it will be especially bad for the unemployed. about 400,000 will stop receiving checks. >> police intercepted two bombs on the east of hillary clinton's visit top?édz northern ireand. officers rammed a car and seized a car...
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Oct 16, 2012
10/12
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CNBC
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eye 263
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but a lot of uncertainty because of the fiscal cliff, the tax policy, some of the regulatory issues. so also, of course, the u.s. is part of a global economy. europe is struggling. some of the emerging markets that have been the source of growth, they've also had sort of weaker periods. so frankly, i think that a lot of companies are just waiting to see. >> kevin, do you agree with that? any thoughts from your standpoint in terms of the financial system right now, the health of it and the u.s. economy? >> yeah, i guess i'd say a couple things. first, maria, i think i'd rather have the u.s.'s problems and challenges and have the courage to deal with them adroitly than the challenges of most of our big trading partners around the world, but we shouldn't take that as a sign of complacency. we should take that as a sign we need to take really strong and bold action. i'd say with respect to the banking sector, we have a benefit that no other advanced economy around the world has, which is we have 6,500 banks that should be competing with each other, competing to provide credit to customer
but a lot of uncertainty because of the fiscal cliff, the tax policy, some of the regulatory issues. so also, of course, the u.s. is part of a global economy. europe is struggling. some of the emerging markets that have been the source of growth, they've also had sort of weaker periods. so frankly, i think that a lot of companies are just waiting to see. >> kevin, do you agree with that? any thoughts from your standpoint in terms of the financial system right now, the health of it and the...
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Nov 12, 2012
11/12
by
WJLA
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eye 176
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economy is headed towards something called the fiscal cliff. >> on january first, $6 trillion in tax increases that will hit all working americans and $1.2 trillion in spending cuts leading to another recession. the big question is whether the bush tax cuts should expire. the president says they should. it's a case he made over and over on the campaign trail. tax cuts tax cuts tax cuts. yesterday john boehner told die an that is a nonstarter. >> i made clear yesterday that raising tax rates is unacceptable. and frankly it couldn't even pass the house. >> still today the president said the debate had been settled. >> this was a central question during the election. it was debated over and over again and on tuesday ni
economy is headed towards something called the fiscal cliff. >> on january first, $6 trillion in tax increases that will hit all working americans and $1.2 trillion in spending cuts leading to another recession. the big question is whether the bush tax cuts should expire. the president says they should. it's a case he made over and over on the campaign trail. tax cuts tax cuts tax cuts. yesterday john boehner told die an that is a nonstarter. >> i made clear yesterday that raising...
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Aug 23, 2012
08/12
by
MSNBCW
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eye 204
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. >>> the fiscal cliff and obama recovery. governor romney gave his take on the president's economy just minutes ago. >> the president's policies have not worked. almost everything he's done has made it harder for this economy to recover, and as a result of that, middle income families across america are having a hard time. >> we will look at the hits and misses of the stimulus plan and whether congress is ready for taxmeggedon. that's next. so you brushed with colgate total and you didn't. let's compare. germ party! eww! now the colgate total mouth. nice! [ female announcer ] colgate total fights 90% more plaque germs. i'm in. [ female announcer ] colgate total. less germs. healthier mouth. is now in our new starbucks refreshers™ -- a breakthrough in natural energy. made with real fruit, starbucks refreshers™ are delicious low calorie drinks you can feel good about. ♪ rethink how you re-energize. ♪ get a boost of natural energy with a new starbucks refreshers™, in three ways. natural energy from green coffee extract
. >>> the fiscal cliff and obama recovery. governor romney gave his take on the president's economy just minutes ago. >> the president's policies have not worked. almost everything he's done has made it harder for this economy to recover, and as a result of that, middle income families across america are having a hard time. >> we will look at the hits and misses of the stimulus plan and whether congress is ready for taxmeggedon. that's next. so you brushed with colgate...
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Dec 29, 2012
12/12
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MSNBCW
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cliff could have on this country's economy. prior to the president's statement, the gloomy outlook for a deal was evident on wall street. the dow fail 158 points or 1.2% to settle at 12,938. fifth straight day of decline on the street. i would like to bring in david nakamura of "the washington post" and david jackson of "usa today." how conscious are our leaders in d.c. of the ripple effect this could have and how conscious are consumers of what might be about to hit them? >> well, the white house is very conscious of it it. they may have the political advantage of this deal, but the fiscal cliff could tip the country back into a recession. consumers are worried they'll start to pick up on the news and once it hits their paychecks they'll definitely feel it. >> do you think the consumers are paying as close attention as we'd like to think that they are. i think they are even though it's holiday time and going back to businesses and i was at the white house when president obama had a series of businesses with small business and
cliff could have on this country's economy. prior to the president's statement, the gloomy outlook for a deal was evident on wall street. the dow fail 158 points or 1.2% to settle at 12,938. fifth straight day of decline on the street. i would like to bring in david nakamura of "the washington post" and david jackson of "usa today." how conscious are our leaders in d.c. of the ripple effect this could have and how conscious are consumers of what might be about to hit them?...
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214
Dec 13, 2012
12/12
by
KPIX
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eye 214
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but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other main concern for the fed is inflation. but, scott, there's good news here. despite the trillions the fed eds pumped into economy, bernanke called the inflation tame, for now, projected 2%. elleelley: if the chairman of the fed is worried about the fiscal cliff there is nothing today that would have cheered ram up. a are less than two weeks away from the traditional prngressional holiday break, and noe republican speaker of the house and president obama seem no closer to a budget deal. as you know, if they don't come up with a spending compromise, most americans will see a hefty tax increase automatically on j
but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other...
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Dec 19, 2012
12/12
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. >> when you look at the fiscal cliff, everything that impact the economy and for us is housing and unemployment because that has a big impact in consumer confidence and a piece of equipment. having said that, the grass generally doesn't know that there's a recession or fiscal cliff out there so the grass will grow. there will be power outages. jeff: and there's the snow fall forecast in wisconsin and that is good for business. there's a lot of activity here. what plans do you have been placed if you go off of the cliff, and specific plans in place? >> really rightsize the business. and economic conditions, do we go over the cliff and there's an impact on the economy, and we can obviously right size the business accordingly. jeff: wall street seems to like that. stock has done pretty well, taking strong steps to make sure if we do go over the cliff they don't kill all the way to the bottom with it. companies all over america doing the same sort of thing. tracy: i don't think he is gone. i would forsake the vacation for the generator and lawnmower. jeff flock in wisconsin. >> need a
. >> when you look at the fiscal cliff, everything that impact the economy and for us is housing and unemployment because that has a big impact in consumer confidence and a piece of equipment. having said that, the grass generally doesn't know that there's a recession or fiscal cliff out there so the grass will grow. there will be power outages. jeff: and there's the snow fall forecast in wisconsin and that is good for business. there's a lot of activity here. what plans do you have been...
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Dec 11, 2012
12/12
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FBC
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gets to the fiscal cliff. there is major business lobbyist out there telling us right now the discussions are focusing on process. how do to it. not necessarily substance. so there are no details on what these offers exactly state. they're not even really getting out on capitol hill right now. so we're still watching it to maintain. again you've got the exchange of partial offers at least coming out of the white house and from house republicans but they still remain fairly far apart. melissa: rich, you have been right in the heart of this story from the beginning. to you, does this feel like progress? what's your opinion? >> anything at this point feels like progress but they are still stuck on the major problems that have dogged them for the last couple of years basically, not just the last couple of weeks. problems with spending cuts. problems with entitlements for democrats. problems with tax revenue for republicans on the other side. there's no movement it seems towards that right now. but again, details a
gets to the fiscal cliff. there is major business lobbyist out there telling us right now the discussions are focusing on process. how do to it. not necessarily substance. so there are no details on what these offers exactly state. they're not even really getting out on capitol hill right now. so we're still watching it to maintain. again you've got the exchange of partial offers at least coming out of the white house and from house republicans but they still remain fairly far apart. melissa:...
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Jun 20, 2012
06/12
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CNBC
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now. >> it's interesting that he did take a stance on this fiscal cliff, will you see anything done on that? we will see an agreement by congress? >> i'm not as optimistic as you are, giveen the wide divide, but maybe cooler heads will prevail. i don't know that we'll get anything done by the end of the year. perhaps a lame duck congress after the election will get something done. sometimes they have got stuff through with the president, but that's post-november. what was most important to my mind today is there is not one fed official that leaves that the unemployment rate is going to be below 6.3%. and that's the level we got to the in september of '08. >> how do you get there in such a short period of time. >> 9/11 their hopeful forecast, you don't get to the level that we were at when we were ten months into the worse recession since the 1930's. that tells you something. qe 3, we could be talking about qe 4 or 5 bases on this forecast alone. >> i find that extraordinary, i have to agree with you to go to the 6% range from where we are right now in a few months. thank you for follow
now. >> it's interesting that he did take a stance on this fiscal cliff, will you see anything done on that? we will see an agreement by congress? >> i'm not as optimistic as you are, giveen the wide divide, but maybe cooler heads will prevail. i don't know that we'll get anything done by the end of the year. perhaps a lame duck congress after the election will get something done. sometimes they have got stuff through with the president, but that's post-november. what was most...
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Nov 15, 2012
11/12
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they think if we go over the fiscal cliff a weak economy could damage cvs's business. can we just stipulate that the pharmacy business is the last place you stop shopping in a slowdown? i'm not going to some cheaper toothpaste. i'm not going to forego toothpaste. i'm not going to lighten up on the medicine. i think the stock is already beginning to overcompensate for the looming cliff. one of my absolute favorites. of the cliches that we've been using, i've been going with looming cliff today. oh, and we heard after the bell that warren buffett's berkshire hathaway sold its cvs stake back in september, which even though it was before all the good news could weigh on the stock tomorrow. second, cvs's stock has been hurt because of bad results from some of its competitors. on the pharmacy benefit management side, express scripts reported an absolutely dismal quarter. talk about a party pooper. what are these, titanium balloons? anyway, that made people worry about caremark. on the pharmacy side walgreen's reported disappointing numbers. people are extrapolating from walg
they think if we go over the fiscal cliff a weak economy could damage cvs's business. can we just stipulate that the pharmacy business is the last place you stop shopping in a slowdown? i'm not going to some cheaper toothpaste. i'm not going to forego toothpaste. i'm not going to lighten up on the medicine. i think the stock is already beginning to overcompensate for the looming cliff. one of my absolute favorites. of the cliches that we've been using, i've been going with looming cliff today....
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Dec 6, 2012
12/12
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KQED
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hostage over the fiscal cliff. >> susie: and apple shares get
hostage over the fiscal cliff. >> susie: and apple shares get
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Sep 20, 2012
09/12
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. >> the fiscal cliff when combined with massive global growth slowdown, economies are dead, that's when a fiscal cliff kills you. i'm going to e, none of the above. anybody for get about europe? bottom line is we have major -- >> shh! don't talk about europe yet. >> spain issued $5 billion of euros of bonds today at very decent levels relative to where we've been. but europe printed 44-month lows on pmis this morning. china last night gave you 11th straight month of contracting on their pmi. with china, this is now 11 straight months is significant. it is not just at 47, not slightly higher, wasn't bombastic, it wasn't terrible. but china's snapping back quickly. again the velocity of a china move back up is not happening. it is not going to be what everybody expected it to be right away. to me it is global growth, it is all of the above, then all of those things become the problem. >> then you put on the calendar. because you mentioned europe and i'll include greece in europe. 11 days from now they have a vote in greece. that's going to be something on the calendar that we should be pa
. >> the fiscal cliff when combined with massive global growth slowdown, economies are dead, that's when a fiscal cliff kills you. i'm going to e, none of the above. anybody for get about europe? bottom line is we have major -- >> shh! don't talk about europe yet. >> spain issued $5 billion of euros of bonds today at very decent levels relative to where we've been. but europe printed 44-month lows on pmis this morning. china last night gave you 11th straight month of...
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Nov 15, 2012
11/12
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WUSA
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economy goes over the fiscal cliff. >>> president obama will work with republicans to avoid the fiscal cliff, the automatic spending cuts and tax hikes that could take effect in the start of the new year. but he's standing by his commitment to raise taxes for those making more than $250,000. >> that's something they say they will not affect. new tax hikes will hit very hard. especially on parents. jessica doyle reports they could have a tough time paying for childcare. >> reporter: it's a dilemma facing families across the country. >> reporter: the mother of three, says not being able to get that tax credit for childcare expenses could really impact her family. >> we typically get a refund and, you know, thinking that it might not be a possible for some people that do use that money at the end of the year to take care of big expenses could be very tough. >> reporter: that's why they are warning parents to plan carefully. andologist congress -- and unless congress plans to pay taxes, they will only get $500 as opposed to $1,000. >> the best thing to do is plan accordingly. >> families c
economy goes over the fiscal cliff. >>> president obama will work with republicans to avoid the fiscal cliff, the automatic spending cuts and tax hikes that could take effect in the start of the new year. but he's standing by his commitment to raise taxes for those making more than $250,000. >> that's something they say they will not affect. new tax hikes will hit very hard. especially on parents. jessica doyle reports they could have a tough time paying for childcare. >>...
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Dec 7, 2012
12/12
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host: how will the fiscal cliff negotiations affect you? will you lose benefits? caller: i will lose benefits at the end of december, and i will have to go on county assistance to see what they can do to help, but i would rather go back to work. i started picking work when i was 12 years old. host: what are you doing to prepare for the scenario? caller: i am trying to get my ged but i have always had a problem with education. guest: this is a huge issue. people like john are not at the negotiation table. it is tough to consider the full range of decisions. what we find time and time again is that the education and skills component of helping unemployed workers get back into the workforce is a big obstacle. we have 40 programs on the federal level to deal with that, but based on analysis out of rutgers university, is usually people that have been able to find their own education path and get their own skills and out of these government programs have been the most successful. that is a problematic dynamic. host: lisa is next from texas on the independent line. good
host: how will the fiscal cliff negotiations affect you? will you lose benefits? caller: i will lose benefits at the end of december, and i will have to go on county assistance to see what they can do to help, but i would rather go back to work. i started picking work when i was 12 years old. host: what are you doing to prepare for the scenario? caller: i am trying to get my ged but i have always had a problem with education. guest: this is a huge issue. people like john are not at the...
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Aug 23, 2012
08/12
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of just how bad the economy will be if we do go off the cliff, the fiscal cliff. today, the cbo updated its economic outlook for the future, which is really hard to do these days, because there is so much uncertainty about what government spending will look like next year, and what our income tax rates will be next year. current incomes tax rates, so-called bush income tax rates, are scheduled to expire on january 1st, and go back up to the clinton tax rates. you remember the clinton tax rates. they're the higher income tax rates with we had in place when the economy was soaring in the 1990s. and thanks to a crazy deal that republicans made with the president to raise the debt ceiling, on january 1st of next year, large automatic spending cuts will go into effect, half of which would be in defense spending. and the good news/bad news affect, according to cbo, of all of that, is that the projected deficit for next year would be cut in half. that is, obviously, the good news. the bad news is that the economy would fall back into recession, with most of the damage hi
of just how bad the economy will be if we do go off the cliff, the fiscal cliff. today, the cbo updated its economic outlook for the future, which is really hard to do these days, because there is so much uncertainty about what government spending will look like next year, and what our income tax rates will be next year. current incomes tax rates, so-called bush income tax rates, are scheduled to expire on january 1st, and go back up to the clinton tax rates. you remember the clinton tax rates....
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888
Jul 12, 2012
07/12
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CNBC
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plus, victims of the fiscal cliff. the surprising truth is just ahead. and the price of higher education. sobering news about a wave of upcomes defaults on student loans with the federal government holding 90% of them. is another massive taxpayer bailout on the way? the answer is right here on "closing bell." laces? really? slip-on's the way to go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some work done. there's a three-prong plug. i have club passes. [ male announcer ] get the mileage card with special perks on united, like a free checked bag, united club passes, and priority boarding. thanks. ♪ okay. what's your secret? [ male announcer ] the united mileageplus explorer card. get it and you're in. [ male announcer ] olympic tennis players bob and mike bryan are always on the move. so they can't get to the bank to deposit a check. instead, they use citibank mobile check deposit. it's easy. they just snap a pic... ♪ hit send... and their checks are deposited rig
plus, victims of the fiscal cliff. the surprising truth is just ahead. and the price of higher education. sobering news about a wave of upcomes defaults on student loans with the federal government holding 90% of them. is another massive taxpayer bailout on the way? the answer is right here on "closing bell." laces? really? slip-on's the way to go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some...
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191
Jun 25, 2012
06/12
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CNBC
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the fiscal cliff we know is over $600 billion hit to the economy in the first quarter. simple expiration of the bush tax cuts and pay rom tax and amounts to $375 billion. if you don't get resolution on that, you are talking about the very high probability of recession, what it does to motor vehicle sales. what it is currently doing to corporate management and continuing to prolong or delay capital spending plans and hiring plans, to me, despite the headline issues of europe, the fiscal cliff in the long term is the more problematic issue for the economy. earnings and stock prices. >> how do you want to invest that in this environment? michael, what do you say happened? >> well, we have been -- lot of bad moves already in the stock market. we think that stocks are reasonably priced at about, say, 13 times earnings here. and dividend yields of supportable by corporate earnings and a lot of corporate cash. lot of liquidity on the sidelines. i think that the u.s. economy does have some underlying strength although i do worry that we are slowing down in anticipation of the f
the fiscal cliff we know is over $600 billion hit to the economy in the first quarter. simple expiration of the bush tax cuts and pay rom tax and amounts to $375 billion. if you don't get resolution on that, you are talking about the very high probability of recession, what it does to motor vehicle sales. what it is currently doing to corporate management and continuing to prolong or delay capital spending plans and hiring plans, to me, despite the headline issues of europe, the fiscal cliff in...
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Oct 26, 2012
10/12
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FBC
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falls off that fiscal cliff. the organization warns that the looming spending cuts and tax hikes could remove $500 billion from the economy. >>> the white version of apple's ipad membership any selling out within 20 minutes of being made available for preorder. the device is scheduled to hit stores a week from today. >>> this breaks my heart, it does. nhl canceling the entire schedule of november because there is no agreement tweem the players and owners. this brings the end to roughly a quarter of season. this is today's speed read [buzzer] david: you did it. liz: what are they thinking? what are they thinking? david: we'll ask mr. bettman and find out. liz: we love gary bettman to come in. during the first presidential debate mitt romney pointed out problems he had with dodd-frank regulation. >> one is it designates a number of banks too big to fail and they're effectively guaranteed by the government. this is the biggest kiss given to new york banks i have ever seen. liz: we have somebody who agrees with romne
falls off that fiscal cliff. the organization warns that the looming spending cuts and tax hikes could remove $500 billion from the economy. >>> the white version of apple's ipad membership any selling out within 20 minutes of being made available for preorder. the device is scheduled to hit stores a week from today. >>> this breaks my heart, it does. nhl canceling the entire schedule of november because there is no agreement tweem the players and owners. this brings the end...
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Nov 13, 2012
11/12
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WUSA
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. >> reporter: long-term we're in big trouble, far worse than january's fiscal cliff, but short-term kicking the can down the road. >> the interesting thing is because the economy is still growing so sowly, that if we -- so slowly, if we kick the can for another year and don't do immediate deficit reduction, our economy is projected to do better than if we had deficit in the short-term. >> reporter: that sounds good. you don't have to raise taxes or cut popular programs. kick the can far enough down the road, you're not in office any more and it's some other politician's problem, which is exactly how we got here in the first place. deer recollect. >> thank you, gary. >>> we've got a possible murder suicide tonight involving three relatives. three small kids, an uncle and a grand mom found dead in a garage in toledo. investigators say these victims might have died from c.o. poisoning inside that closed-up garage but they don't think this was an accident. >>> the man who does the voice of elmo in some trouble tonight. kevin clash admits he had a relationship with a man who says he was
. >> reporter: long-term we're in big trouble, far worse than january's fiscal cliff, but short-term kicking the can down the road. >> the interesting thing is because the economy is still growing so sowly, that if we -- so slowly, if we kick the can for another year and don't do immediate deficit reduction, our economy is projected to do better than if we had deficit in the short-term. >> reporter: that sounds good. you don't have to raise taxes or cut popular programs. kick...
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Dec 7, 2012
12/12
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MSNBCW
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. >> if congress does address the problems that it needs to address, concerning the fiscal cliff, if we have reasonable resolution type of programs that the president has been proposing to support the economy in the short run, get us on a sustainable fiscal path in the long run, protect the middle class we're going to see progress in this economy. >> the risk the president wants us to take increasing tax rates will hit many small businesses that produce 60 to 70% of the new jobs in our country. that's the whole issue here. >> on the fiscal cliff front, no new deals or concessions made public, but "the new york times" reports the dynamic has changed. at the request of speaker boehner, senate leaders and nancy pelosi have been dismissed from the negotiating table. leaving just the speaker and the president to hammer this one out. today vice president biden is hosting middle-class families at the white house, continuing to pressure congress to strike a deal on tax rates below 250,000. yesterday, the president struck a hopeful note with a middle-income family in virginia, while maintaini
. >> if congress does address the problems that it needs to address, concerning the fiscal cliff, if we have reasonable resolution type of programs that the president has been proposing to support the economy in the short run, get us on a sustainable fiscal path in the long run, protect the middle class we're going to see progress in this economy. >> the risk the president wants us to take increasing tax rates will hit many small businesses that produce 60 to 70% of the new jobs in...
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Nov 14, 2012
11/12
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CSPAN2
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cliff implies that you're a keynesian. that you believe the economy is going to go south if you close the deficit even though it's not usually stated in those words. you know, a couple of details our, you know, yes generous speaking you reduce the deficit, you will have contractionary effect but i do it matters a lot. if you actually, famously the tax cuts on the wealthy were not very expansionary versus tax cuts for middle-class. even better than any of that is spinning on infrastructure which is another thing this panel is supposed to talk about. these things don't cost very much a they have a big effect on jobs. and any other point, this is a point my boss, research director at epi, you know, since a lot of democrats who do believe that deficit reduction is important and there's some literature that points, you get to the point where debt as a share of gdp, then all of a sudden things go bad for the economy. looking carefully at these studies do not really very credible. but in any case the point being that even if you
cliff implies that you're a keynesian. that you believe the economy is going to go south if you close the deficit even though it's not usually stated in those words. you know, a couple of details our, you know, yes generous speaking you reduce the deficit, you will have contractionary effect but i do it matters a lot. if you actually, famously the tax cuts on the wealthy were not very expansionary versus tax cuts for middle-class. even better than any of that is spinning on infrastructure which...
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Dec 8, 2012
12/12
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to the fiscal cliff. yet, this is the same republican leadership that had the house and senate barely a full day this week. we have had the election. the president was clear in the campaign in fighting for a middle-income tax cut, a tax cut which, by the way, gives everyone a tax break, but it also asks the upper 2% to pay their fair share. and since that election four weeks ago, we have had time, the president has given republicans flexibility to come up with a credible, specific plans. what they offered in return was an empty letter, lacking in specifics. it was a manifestation of a lack in the republican caucus about the tax cut and no specifics in their planned, and not even senator mcconnell endorsed the plan. we can make a difference right now, by putting the middle- income tax issue up for a vote. democrats are unified on it. we have been discharged position to bring it to the floor. the only obstacle standing in the wake of middle-income tax relief is the republicans'' unwillingness for the top 2%
to the fiscal cliff. yet, this is the same republican leadership that had the house and senate barely a full day this week. we have had the election. the president was clear in the campaign in fighting for a middle-income tax cut, a tax cut which, by the way, gives everyone a tax break, but it also asks the upper 2% to pay their fair share. and since that election four weeks ago, we have had time, the president has given republicans flexibility to come up with a credible, specific plans. what...